European Union

Spring 1999 was supposed to be the 's finest hour, as its Economic and Monetary Union finally got underway.
Instead, the union was thrown into turmoil. After a scathing report suggesting corruption and mismanagement in the European Commission, all 20 commissioners were forced to step down.
At the same time negotiations to reform the EU budget were deadlocked, jeopardizing ambitious plans to take in new members from Eastern Europe.
It took a meeting of the EU heads of state and government at the Berlin summit on 24-25 March to resolve the crisis.

EU Budget breakthrough
After 20 hours of non-stop negotiations at the Berlin summit, EU leaders agree on budget reforms - but they are ...

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winners and losers.

As the sun rose over Berlin, a compromise was finally foundMost consumers living in the European Union should be among the winners, as the price of many foods could fall in the coming years.

Spain, Greece, Portugal and France did quite nicely, defending their share of EU subsidies.

The big loser is Germany. The host government tried to get its EU payments reduced by 3bn euros, but for the talks to succeed the Germans had to settle for a cut of just 700m euros.

Austria, Sweden and the Netherlands are the other big contributors to the EU's coffers and they did not achieve the big cuts they hoped for either.

Italy could soon become one of the big spenders. In two years new rules for calculating each country's budget share will sharply drive up the size of Italy's contributions.

The Union's aims and prospects

During its brief history, the European Union has grown greatly in terms of the area it covers - it now numbers fifteen Member ...

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European Union. (2006, November 3). Retrieved December 5, 2020, from
"European Union.", 3 Nov. 2006. Web. 5 Dec. 2020. <>
"European Union." November 3, 2006. Accessed December 5, 2020.
"European Union." November 3, 2006. Accessed December 5, 2020.
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Added: 11/3/2006 09:47:26 AM
Category: Miscellaneous
Type: Free Paper
Words: 1169
Pages: 5

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